Video Event Data Recorder Market is expected to reach a CAGR of 6.9% during 2016 – 2026

24/mar/2017 12:57:31 Pradnya Kulkarni Contatta l'autore

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The global  video event data recorder (will see) market  was valued at nearly US $ 1.500 Mn in 2015 and is projected to reach US $ 3.500 Approximately Mn by 2026. Sales revenue is expected to increase to at a CAGR of 6.9% During the assessment period ( 2016-2026). This growth is Attributed to rising awareness and adoption of vehicle safety technologies, government regulations and motor vehicle safety standards and benefits such as detailed data capture capabilities offered by devices will see. Among the vehicle types, revenue contribution from the passenger cars segment is anticipated to expand 2.2X During the forecast period. In terms of market share value, light commercial vehicles was the dominant segment, accounting for more than 50% share of the global video event data recorder market revenue in 2015.

Global Video Event Data Recorder Market Analysis and Forecast  - By Vehicle Type 

  • In terms of revenue, passenger cars segment is expected to register a CAGR of 8.6% Relatively high During the forecast period. This is Attributed to Increasing adoption of solutions will see in passenger cars as a valuable research tool and to record impact speeds

  • The global market for Vedr solutions is highly fragmented and intensely competitive and to sustain Their position in the market, manufacturers of Vedr solutions are offering various incentives to private sector stakeholders - primarily OEMs and auto insurance companies - to deploy These solutions

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Total Incremental Opportunity (2016-2026)

  • In terms of revenue, light commercial vehicles is projected to be the most attractive segment in the global video event data recorder market During the forecast period

  • Passenger cars segment is expected to register high growth rates YoY Throughout the forecast period and is anticipated to record a CAGR of 8.6% in the coming decade

  • Light commercial vehicles segment was valued at almost US $ 800 Mn in 2015 and is expected to remain dominant through 2026, accounting for a revenue share in excess of 45%

"Currently, adoption of  video event data recorders  is comparatively higher in light and heavy commercial vehicles owned by law and enforcement agencies (including military and defense). However, demand for  video event data recorders  Also is expected to increase to from the passenger cars segment. This rising demand is Attributed to various factors such as insurance transparent procedures and improved monitoring of public transport and fleet operations. "-  Analyst (Electronics and ICT), Future Market Insights

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Global Video Event Data Recorder Market - Opportunities for Key Players

Innovative sales and marketing strategies

The global video event data recorder in the market is still in nascent stages, but is witnessing a substantial growth. In order to leverage rising adoption of These products, companies could Significantly invest in core sales and marketing functions. With Law & Enforcement Agencies (LEAs) being the largest application area for VEDRs, there is a potential revenue opportunity for manufacturers. Active players in the global video event data recorder market can build a large pipeline of potential revenue streams through strategic planning and increasing time investment with LEAs

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Cost-effective products and software revenues

Pricing and features are the two main factors shaping decision-making of law enforcement agencies. This is Attributed to limited financial resources of most agencies. In order to penetrate and gain a significant footprint in this highly fragmented market, manufacturers could strategically invest in R & D Initiatives to develop Vedr tools with advanced features in the low-medium range ASPs. Additionally, integration of smart software could help drive up margins and flow through to the bottom line. Contingent upon proper implementation, These two Efforts have the potential to drive revenues in the long term.

Enhanced customer awareness

Like any other market in the development stages, the global video event data recorder market is Also caratterizzato by low customer awareness Regarding Vedr tools and the associated benefits. Educating customers about the convenience and advantages of advanced vehicle safety devices can play a vital role in triggering growth in the adoption of These devices. Auto OEMs can play a crucial role in creating customer awareness as they are in close proximity to car buyers. They can make sustained Efforts to educate buyers about advanced vehicle safety systems such as VEDRs along with the inherent advantages So THAT provision of These devices Becomes a default criteria influencing customer purchase decisions. This in turn offers potential revenue opportunities to OEMs car. Additionally, auto OEMs can take the lead by providing devices such as VEDRs and related services free of cost until customers are revealed adequately educated about the benefits, convenience and necessity of using These systems. This is Likely to lead to increased At growth in demand for vehicle safety devices in the future.

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